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Postmates raises another $300M, reportedly valued at $1.2B

2018-09-18T14:46:50Z - Anthony Ha / TechCrunch

On-demand delivery service Postmates announced this morning that it has raised $300 million in additional funding led by Tiger Global Management.
While the company’s press release doesn’t mention this, Fortune reports that the deal valued Postmates at $1.2 billion.
Postmates previously raised a $140 million round at a $600 million valuation in 2016.
More broadly, it looks like VCs aren’t backing away from the on-demand delivery market — DoorDash, for example, recently raised $250 million at a $4 billion valuation.
“Postmates is proud to be the first and largest on-demand network that is enabling the growth of retail across the country, and today’s investment accelerates our ability to pair technology with the vitality of our neighborhoods.”